First Derivatives welcomes £1.3m boost from Invest NI
Published 20/03/2010 | 05:00
FINANCIAL software and consulting firm First Derivatives stands to make a £4.1m (€4.6m) investment at its Newry office as it seeks to develop new projects.
The investment includes £1.29m from Invest NI, the North's economic development agency.
First Derivatives specialises in the capital markets technology sector.
The new investment is aimed at enabling the development of a risk management product and a market data project.
The North's enterprise minister, Arlene Foster, described First Derivatives as "one of our most successful indigenous software companies".
She pointed out that the firm had secured many of its clients through its innovation and research skills.
The chief executive of First Derivatives, Brian Conlon, paid tribute to the contribution from Invest NI.
"This latest investment from Invest NI will allow us to accelerate our ambitious R&D program."
First Derivatives is listed in Dublin and employs just over 400 people in Ireland, the USA and Asia.
The firm recently won a special recognition award at the Irish Independent-sponsored Ulster Bank Achievement Awards.